Jason,
I have a 93 lightning. I bought it about a year ago. Before I bought it I was a diehard chevy guy. Once I drove it I had to have it. As far as performance, my truck is not totaly stock but it isnt radical. All that I have changed is the air filter to a K&N filter, underdriven pullies, and an exhaust. I'm beating a stock 5.0 in the quater. As for the price, that truck sounds worth it. I payed 12k for mine and I bought it with 82k miles.
They seem to hold there value well. I hope Ive helped you. If you to know anything more you can email me at skjprk@peoplepc.com
Scott